The 2017 Zhongshan Government Report clarified “to strengthen technological innovation, develop innovative platform, and build technological finance ecosystem”.
According to municiapal science and technology bureau, Zhongshan sees remarkable success in innovative platform building, with 77 high-tech companies cultivated in recent three years. Zhongshan also innovates the investment mode of financial capital, and levers 6.018bn yuan loan and attracts 693 enterprises to join “the technological loan pool”. More than 300 of these enterprises totally received about 2.3bn yuan loan last year.
“On one hand we propagandize the scientific and technological finance policy, on the other hand we assist small and medium size enterprises in loan problem solving together with banking institutions.” Said Chen Yiwen, Director of Guangdong Science and Technology Finance Service Center Zhongshan Branch.
In 2015, the 100mn-yuan risk reserve fund for technological loan was jointly established by provincial, municipal and regional administration and a trial implementation of technological loan platform was launched in Torch Zone. In 2017, Zhongshan increased the reserve fund to 250mn yuan, hoping to enlarge the beneficial coverage of technological finance. The government also subsidized technological credit projects with interest discount.